504

Commissioners of the Girard Estates, Girard Fund (Which Became the Girard National Bank) 1834 to 183

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:45.00 USD Estimated At:75.00 - 120.00 USD
Commissioners of the Girard Estates, Girard Fund (Which Became the Girard National Bank) 1834 to 183
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Philadelphia, Pennsylvania. 1834 to 1836, Lot of 3 pieces, 2 from the Office of the Directors of the Girard Fund, 1 from the Treasurer of the Girard Trust. All have black text and black borders, are I/C, with a large POC at center. Fine condition. 3 pieces. After the charter for the First Bank of the United States expired in 1811, Stephen Girard purchased most of its stock and its facilities on South Third Street in Philadelphia, then reorganized it under his direct personal control. Girard's Bank was a principal source of government credit during the War of 1812. Towards the end of the war, when the financial credit of the U.S. government was at its lowest, Girard placed nearly all of his resources at the disposal of the government and underwrote up to 95 percent of the war loan issue, which enabled the United States to carry on the war. Upon his death in 1831, his own bank passed to a trust according to his will. Merchants of the city chartered the Girard Bank to buy the banking assets from the trust and carry on the business. After the passage of the National Banking Act, the bank reorganized in 1863 as Girard National Bank. The bank was acquired by Mellon Bank in 1983 and then, two decades later, by Citizens Bank.